Govt hikes excise duty on diesel by Rs 1.5 per litre, on petrol by Re 1

New Delhi: The government on Saturday hiked excise duty on petrol by Re 1 per litre and by Rs 1.5 a litre on diesel, the fourth increase in duties in less than six weeks.

Basic excise duty on unbranded or normal petrol has been increased from Rs 8.48 per litre to Rs 9.48 and the same on unbranded diesel from Rs 9.83 to Rs 11.33 per litre, a notification of the Central Board of Excise and Customs (CBEC) said.

This is the fourth time in less than six weeks that excise duty is being hiked to make use of the slump in oil prices to garner resources for the government without burdening consumers.

The government had on January 15 hiked excise duty on petrol by Rs 0.75 per litre and by Rs 2 a litre on diesel.

Taken together with the November 7, 2015 increase in excise duty on petrol of Rs 1.60 per litre and diesel by 30 paise, this is the fifth hike in levies this fiscal.

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Source:zeenews

Petrol, diesel prices